U.S. Treasuries on their lows ongside a higher start in equities with the Nasdaq (+0.9%) holding a sizable lead over the S&P 500 (+0.4%) thanks to renewed strength in technology names.
The overnight news flow was limited, though it is worth noting that China’s PPI fell at its fastest pace since early 2016 in the May reading. In Europe, there has been continued rate hike chatter ahead of next week’s ECB meeting.
Yield:
2-yr: +7 bps to 4.59%
3-yr: +7 bps to 4.24%
5-yr: +7 bps to 3.93%
10-yr: +5 bps to 3.77%
30-yr: +3 bps to 3.92%